Children are looking to their grandparents for advice about saving money, according to a new study by TIAA-CREF and MIT’s AgeLab.
85% of the children interviewed were interested in talking more about money, saving and personal finance. Yet, only 8% of grandparents have such conversations.
The article in USA Today, outlined a few good ways to jumpstart the conversation:
- Talk about how prices have changed in your lifetime.
- Bring up savings at birthdays if the kids get a check or two.
- Talk about the opportunities you’ve gotten (or maybe missed out on) through education.
- Listen to their worries. Ninety-seven percent of young adults in the intergenerational study say they’re worried about saving.